Papa John's Tops Estimates; Lifts Full-Year EPS Guidance
Papa John's (NASDAQ: PZZA) released its fiscal second-quarter earnings results after the closing bell on Tuesday.
The company reported both earnings per share and revenue that came in ahead of Wall Street analysts' consensus estimates. The company also announced the institution of a quarterly dividend. In late trade, the stock was up a little better than 1 percent to $66.70.
“Our commitment to delivering a quality product around the globe continues to pay off, with excellent financial performance, a top ranking by the prestigious American Customer Satisfaction Index for the 12th time in 14 years, and the milestone opening of the 1,000th international Papa John's restaurant,” said Papa John's Founder, Chairman and Chief Executive Officer John Schnatter. “I am also pleased to announce a quarterly dividend. The combination of share repurchases and quarterly dividends reflects the strength of our brand and our long term commitment to deliver increasing shareholder value.”
Fiscal Q2 Results
Papa John's reported net income of $17.2 million or $0.77 per share, compared to net income of $14.3 million or $0.59 per share, in last year's second-quarter. This topped analysts' consensus EPS estimates of $0.69.
Revenue in the period was $349.2 million, a 9.6 percent increase from the $318.6 million the company reported last year. This also came in above analysts' consensus revenue estimates of $348.14 million.
System-wide comparable store sales, a key industry metric, rose 3.4 percent in North America and 6.8 percent for the international segment in the quarter.
Looking ahead, the company raised its full-year earnings guidance from a range of $2.90 to $3.00 per share to $2.92 to $3.00 per share.
Papa John's also announced a quarterly dividend payment of $0.25 per share and increases to the company's share repurchase authorization.
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